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Assembly Bill A586

2025-2026 Legislative Session

Relates to campaign contributions by a limited liability company

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Current Bill Status - In Assembly Committee

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2025-A586 (ACTIVE) - Details

Current Committee:
Assembly Election Law
Law Section:
Election Law
Laws Affected:
Amd §14-120, El L
Versions Introduced in 2023-2024 Legislative Session:
A3154

2025-A586 (ACTIVE) - Summary

Provides that for contributions that exceed twenty-five hundred dollars, when a campaign contribution is attributed to a limited liability company, such contributions shall be further attributed to each member of the limited liability company in proportion to the member's ownership interest in the limited liability company.

2025-A586 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    586
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
   Committee on Election Law
 
 AN ACT to amend the election  law,  in  relation  to  certain  political
   campaign contributions
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (b) of subdivision 3 of  section  14-120  of  the
 election  law,  as added by chapter 4 of the laws of 2019, is amended to
 read as follows:
   (b) If, by  application  of  paragraph  (a)  of  this  subdivision,  a
 campaign  contribution is attributed to a limited liability company, the
 contributions shall be further attributed to each member of the  limited
 liability  company  in  proportion to the member's ownership interest in
 the limited liability company FOR CONTRIBUTIONS THAT EXCEED  TWENTY-FIVE
 HUNDRED DOLLARS.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01291-01-5

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